Leasing Scirocco

[mortc002]

I have just signed for a lease on a scirocco 1.4 tsi.

I just wanted to discuss prices etc with anyone in a similar position, also if anyone has leased other VW's any info on options once the term is up would eb a great help.

Chris

[JP87]

I've ordered a Deep Black TDI 140 with Bluetooth on a 2 year lease. It's costing me £265 a month with a £2000 deposit. At the end of the lease I can either negotiate a purchase, extend the lease at reduced cost or hand the car back.

[jammyd]

I've ordered a Deep Black TDI 140 with Bluetooth on a 2 year lease. It's costing me £265 a month with a £2000 deposit. At the end of the lease I can either negotiate a purchase, extend the lease at reduced cost or hand the car back.

How many miles per year are you allowed on that?

[caprinolaw]

To give you an idea.

I have a Personal Contract Purchase

£3000 Deposit
Scirocco 170 2.0 TDi (With Bi-Xenons and Cruise Control)
25,000 Miles Per Annum
Fully Serviced and Maintained (including worn or punctured tyres)
Breakdown Cover with Courtesy Car
Another Scirocco if Stolen or Written Off while mine is repaired/replaced
Can Return after 3 years or Purchase

£500.00 Per Month

[maisbitt]

Caprinolaw:-

£3000 up front + 36 x £500 = £21000.

List price of your car inc options = £24,600, assuming non metallic and manual (add £430 if it is metallic)

You could get that car for £22,500 with a bit of keen negotiation.

So against someone who buys the car outright, you're saving £1500, having 3 years of maintenance paid up inc tyres (2 extra sets front + 1 set back exc punctures + 4 services most likely - all in all worth no more than £1500).

So you'll end up saving £3000 against someone that buys outright (possibly with a loan) and pays for their own maintenance, and have no car to show for it at the end?

I can guarantee you that a 3 year old 170 TDI Roc with 75k miles on will be worth far in excess of £3000. If you do buy, you'll be hit with a "right to buy fee".

Doesn't seem such a deal to me.

[mortc002]

Ok well mine isn't balloon payment its contract hire so 3 + 23 (26 monthly payments over 2 years) So first payment £1000ish and a fee of £150
10,000 miles per annum (20,000 over the contract) (5p per mile extra). £348 per month.
scirocco 1.4 tsi with metallic paint, dynaudio, DAB and 18" wheels.
Tax for the duration, RAC breakdown cover.

As I haven't received the docs yet I am not sure if I will need GAP as well but if so I have found it £160 over 2 years with RGI - Not sure if appropriate as I never bought the car.
Also I don't know the options provided once 2 years up, other then give it back.

I will update once I have them throught (In next 2 weeks) any other feedback form the forum appreciated.

[caprinolaw]

To be honest the service the leasing company has provided me and my family over the last 15 years has been second to none. That coupled with them always waiving any early return fee's and excess mileage etc for me its a good deal.

For me its hassel free motoring and if that comes at a little bit of a premium to me i can deal with that!

Considering on my golf and after 100K miles i went through 8 sets of tires, 3 sets of disks and brakes, 2 windscreens, numerous services and collect a return service amongst other things i felt like i got more than my monies worth.

At the end of the day its down to personal preference and circumstances and this options suits me best.

[caprinolaw]

Forgot to add its a DSG and its only 35 payment not the 36.

Breakdown Cover and Tax for the suration has also been thrown in.

[ayc1985]

I know PCP and HP have their perks but I have always been a fan of owning the car after 3 years, rather than having paid most of it and having to pay a lump sum to finally own the car. No mileage restrictions, the car feels and is yours.

I suppose PCP is better if you constantly change cars after less than 3 years.

[mortc002]

I agree I would love to own the car but if I wanted to buy it or even PCP it I simply could not afford it, 350 per months was a really low price in my opinion with the extras I have agreed on

[Grampa]

I have mine on contract hire, 210, metallic, sun roof, black 19", piano black interior £25380 list price, 8,000 miles pa - no deposit, 36 payments of £347.00 + VAT. At the end of 3 years, give it back or negotiate a purchase.

I work on a monthly budget and can do without having to find £2000-£3000 as a deposit, so without contract hire I could only run to a £12000 or so car. I have no problem with not owning it at the end of the term - in fact it's a positive advantage - no traipsing round dealers to get a trade in price, plus I can switch from make to make without loosing out because for instance a VW dealer doesn't want a Vauxhall, plus I can choose a 'different' colour (Viper Green) without worrying whether or not it will be a problem when it comes to selling.

[caprinolaw]

Without contract hire I could only run to a £12000 or so car.
I can switch from make to make without loosing out because for instance a VW dealer doesn't want a Vauxhall.

These 2 points perfectly sum up why I lease

[JP87]

I've ordered a Deep Black TDI 140 with Bluetooth on a 2 year lease. It's costing me £265 a month with a £2000 deposit. At the end of the lease I can either negotiate a purchase, extend the lease at reduced cost or hand the car back.

How many miles per year are you allowed on that?

10k, which is plenty for my needs. Excess mileage is 7p per mile, so £70 per 1000 miles. Only way I would ever go over that is business miles, for which I get paid 40p, so it doesn't concern me. Lease payment will go up to £271 after the VAT increase... Bastards!

Oh it's not maintained/insured etc. Insurance is costing me a grand because I'm young and have a rubbish postcode!

[SCOTT]

thats a bit naughty to but the price up because of the vat increase even thought you signed the contract well before.

[Elay]

I'm in the process of leasing a 2.0 D GT in Rising Blue. - otherwise standard kit. - 20,000 miles a year 3+23mths - £318pm inc VAT - if I was doing lower mileage would have been cheaper - £255 on 10k miles P.A.

I've leased cars for years and always look for 'bargains' usually models that are about to get a 'face lift' you can get really cheaply as the dealers want to get rid of stock - just about to hand back and E Class Merc that i've had for 2 years - paying roughly same as i'll be paying for the roc - but this time I decided to forget the idea of a bargain and just get something that I really wanted! that and looking forward to getting into something sportier!

As for putting price up - that's not the dealer.. that's the government i'm afraid.. all contracts are +VAT - so when VAT rises so does your monthly payment!

[mortc002]

I've ordered a Deep Black TDI 140 with Bluetooth on a 2 year lease. It's costing me £265 a month with a £2000 deposit. At the end of the lease I can either negotiate a purchase, extend the lease at reduced cost or hand the car back.

How many miles per year are you allowed on that?

10k, which is plenty for my needs. Excess mileage is 7p per mile, so £70 per 1000 miles. Only way I would ever go over that is business miles, for which I get paid 40p, so it doesn't concern me. Lease payment will go up to £271 after the VAT increase... Bastards!

Oh it's not maintained/insured etc. Insurance is costing me a grand because I'm young and have a rubbish postcode!

My understanding (as outlined in the government doc http://www.hmrc.gov.uk/vat/forms-rates/ ... idance.pdf" onclick="window.open(this.href);return false;]) is that the VAt stays at the rate when you take out the contract. This is 100% the case with mine (contract hire) it may however be different with PP.

[Elay]

i'd double check that if I was you - contract hire is deemed to be a service (as opposed to supply of goods) under HMRC guidelines, as a result you effectivley get a monthly (or annual) invoice which is VATable - therefore if VAT changes, so does your payment.

That was certainly the case when VAT dropped to 15% recently then went back to 17.5%. - my payments altered twice.

[Grampa]

i'd double check that if I was you - contract hire is deemed to be a service (as opposed to supply of goods) under HMRC guidelines, as a result you effectivley get a monthly (or annual) invoice which is VATable - therefore if VAT changes, so does your payment.

That was certainly the case when VAT dropped to 15% recently then went back to 17.5%. - my payments altered twice.

Same here - however another advantage of contract hire is that you can claim half the VAT back (if you're VAT registered of course) - you also get billed extra if VED rate changes during the term of the contract.

[mortc002]

Anyone know if this is 100% of the case? The company providing the lease are denying this but 'of course they would'

Chris

[Grampa]

100% the case with contract hire (I have the invoices to prove it when VAT went from 15% to 17.5% - the chancellor makes VAT rules not lease companies, so it has to be the same for all deals) - with a lease I don't know, but assuming your deal is similar to JP87's at around £265 a month, if that's a VAT inclusive price, the forthcoming VAT rise would only ad £5.64 to the monthly payment (or £6.62 if it's a VAT exclusive price), so not really worth losing any sleep over either way.

On the other hand, they could of course keep the price you actually pay the same by dropping their VAT exclusive price slightly when the time comes. If it's really a concern, I think the best advice would be to get something in writing from them.